Discover It Secured Review | Nerd Wallet

Discover It Secured Review | Nerd Wallet
4.0 0.0 0.0 0.0 0.0 56

#21

A NEW TRANSFORMATION!

I’ve been struggling all my life, mostly due to my own mistakes I have made in my past. Being young and foolish, and not knowing how to budget. And over the years I’ve paid for it. By not being able to move forward in life. Now I am making changes in my life, I am working on my mistakes, although it cost me but that’s ok. Now searching for an chance and opportunities to start fresh. Hopefully 2018 will be a brand new start for me… Thank You!


#22

Denied

I was denied with a score of 528, no bankruptcy. My husband was approved with a score of 465. So unsure why it went that way. I did pay the deposit for him and looking for another card for me.


#23

Credit rating went down

I got this secured card after depositing my $200. One day I decided to withdraw my money and close the account. I received a bill for $2.50 for some sort of fee. I forgot about it but a month later I already got a letter from a collection agency. I called Discover and they said I have to pay them the $200 back in order to cancel my account. I was so angry when I discovered that my credit score had dropped 100 points because of the $2.50 fee that I forgot to pay for 1 month. I called Discover and yelled obscenities at the rep. Later I got another letter apologizing for the mistake and that all is taken care of. I got a $20 check from them. Unfortunately my credit score is down because of this incident and it shows up on my credit report as a negative issue. They screwed me big time. Be careful with this card.


#24

Major Disappointment

Did the Nerd Wallet credit score inquiry and it stated my credit was at 543. Applied to the Discover secured card and was denied stating my credit score was 465. That’s almost a 100 points lower than originally told. And why am I being denied as a credit risk when it’s a secured card and I’m having to give them my own money to use??? That’s insane. Isn’t that what I’m doing with my own checking account, using my own money to pay for stuff??


#25

Holding on to my money forever!

I had gotten a secured card to build my credit after not having any - I didn’t have any cards because I always just paid for everything.
I got the card in May of 2016. Shortly thereafter I had gotten two other cards to start building credit.
I can say with all three cards I have either a. Paid off the balance in full each month or b. paid the balance to below 30%
When I got the Secured Discover It card it was a one year probation period and if everything was good you were to get your secured deposit back. Since then they have lowered the probation period to 7 months. I am going on 16 months with 100% good payment history on 3 cards and still have no deposit yet.
Each month since my 12 month anniversary I call to inquire & they just tell me I am under review.
I am ready to close the card altogether and just keep my other two. They are a higher limit any way and I am not getting jacked around.
I do not recommend the Discover It secured card to anyone.


#26

Graduated to UnSecured Status - 09.09.17

In Feb '17, I began the long trek of repairing my credit. Couldn’t even purchase a car with the damage I’ve done to my Credit with a 567 FICO Score. A. Secured Cards - Opened the Discover Secured It Acct with a $300 Deposit on 02.03.17. Opened up a Capital One Secured Credit Card with $75 for a $200 Credit Limit on 02.10.17. Credit Limit increased to $500 in Aug ’17. Opened up a CreditOne Acct with a $75 Annual Fee for an initial $300 Credit Limit. Credit Limit increased to $450 in Aug ‘17. On 08.02.17 EQFX: 597 TU: 624 EXPN: 602. At the end of Aug on 08.31.17 EQFX: 636 TU: 627 EXPN: 625. I had managed all accts by either 1.) Charging it to the limit several times and paid it completely off prior to the Statement Date of – or – 2.) Keeping the Balance well below 30%. Now, here comes the hard part of getting bad credit accts deleted: B. Charged Off Utilities - I had two small utility accts that were sent over to Collection Agencies. Paid the Original Creditor in Full, NOT the Collection Agency. Doing this saves you money because the Balance reported includes the Agency’s Fee and paying the Original Creditor gives you a much greater chance at a Deletion, instead of a 7 Yr “Paid in Full” remark. As a Result, both were deleted the following Month of Jun ‘17. One additional negative collections of $147 was paid to Original Creditor resulting in an additional deletion in Jul ’17. C. Charged Off Cards - I had an old Capital One and an Orchard Bank Card charged off in 2010. Both were purchased by Portfolio Recovery and Calvary, respectively. Wrote all 3 Credit Bureaus to challenge the 7 yr time limit. As a result, both are now deleted from my Credit Report. Got a Car Note via BBVA Compass Bank for $10,102 with an 7.86% APR b0e1cause they use TransUnion and it had the highest of all three at time 05.20.17 with a FICO of 586. EQFX: 558 EXPRN: 512. D. Credit Monitoring – Enrolled in Equifax monthly credit report prior to the data breach for $19.95 to get a new credit report with Score every day since 06.01.17 with no adverse impact to my score. Signed up with Experian as well. I know Everyone Hates Equifax right now, but they keep the previous Credit Reports you had pulled daily archived so you can review them. I can still access the one pulled on 06.01.17. With Experian, you Cannot do this, but you can review past Scores via “Score Tracker”. TransUnion is simply Trash in my humble Opinion. Signed up with Credit Karma & NerdWallet on 07.10.17. Credit Karma displays a weekly point graph of your credit progress. Today on 09.10.17, I received e-mail from Discover Congratulating me on good credit management and notifying me that my $300 Dep is being returned to me in the mail with a credit line increase of $1,200 for a total $1,500 Credit Limit. I hope this guidance helps someone who is negotiating the perilous journey of credit repair because it’s not easy, at all, but it’s worth the pain in the end. ~ John Allen Shaw


#27

I was approved,

I have low credit, in the hope of restoring my credit. I will write a new review in a couple of months.


#28

I used it to build credit.

I didn’t have any trouble with this card, so I can’t comment on the customer service. Website made it super easy to make my payments from my bank.

I used this card to establish credit since I am just starting out, and I only gave myself a $200 credit (the minimum) and I never went over $100 since I typically only used it for gas.


#29

Bankruptcy cleared. Then approved

It’s been 5 months after filing bankruptcy. My credit report has been cleared, all three scores are in the mid 500’s, and just got approved for the secure it discover card. I consider this a fresh start because I was surely an idiot when I was young and dumb. I am now 31 with a fresh start and hopefully before 40 I have even better credit, a house, and much more. My card should be here within a week but I am giving 5 stars because discover took a chance on me. I will surely update after a few months. But cheers to a new start and being responsible. 2018


#30

Phishing, scammers and fraudolent

I have not a credit score. Fresh new I find out all this crappy system about than even if you never had debt or loan o bad payment and you have income, saving, debit card, bank account and savig you will not be allow to have a credit card.

This is already a crack in a flaw system. It’s really unaccapteable that in order to be approved for access to a credit you have to be scan and autorized by a private company. Than actually collect your information and cannot guardantee the security of the data and it is not even responsable for the data lost. Where data lost mean all you personal information included, credit card numbers and ssn. See what happen already to Equifax and it could happen also to other company but problably you don’t know.

Then let’s get uniformed and just apply for discovery secured.

I go forward the whole process. Then at the end they asked me the copy of ID and SSN. I did it, but I write on the copy that it was valid only for the ID check for the application of this specific card. All the information was visible and the document totally clear.

A chat rappresentative start to contact me and try to solve a “problem”. He asked me a clean copy of my SSN. After I asked questions, beside bullshit about patriot act and federal rules. He told me that Discovery had a internal procedure that want all “clean and high definition” copy of you documents.

I complain. I don’t want that all my documents get collected in a single spot. I surrended my address, my ID, my signature, my SSN number, evrerityng necessary to a unfaithful employee or an haker to be capable to use my id as is me. Asks for loan, make documents, etc.

So I refuse.

After I checked the status of the request, I had the confirm that it was declined. I get immediately the epiphany that I got an “hard pull” on my credit report just because of that.

I called and started to complain.

Beside crapy and bullshits answers based on an internale instruction books that tell them how to asnwer even if it is totally non sense i find out the follow information.

  1. Discovery will keep your information for 5 years, even if they don’t have any reason to do that.

  2. If you apply for the credit card and you don’t finalize the part that asks to forward the personal documents , it’s like you finalize the subscription and get a sure deny, even if you just refuse to surrend the document.

  3. You have no right of access your own information on Discovery and they will keep them and use them as they like.

So base on that, it’s clear that the system used to Discovery it’s fraudolent and it will force you to go forward in the process even if the request that you got are not specified in any contract or document and you cannot abort you request even if you have plenty right to do it.

I worried, why they can abuse the personal information like that? Even how the can override the law and play this trick without any consequency? How they can state that they are safe if any operator can have full access to my personal informations?

Consumer are totally unsafe


#31

The Below Person Has No Clue

From reading your review, I take it that you are new to this country or have never taken the time to learn how to write and spell correctly. You also have no clue about how credit works and will be waiting for a credit card for a long time if you’re not willing to supply the required information. Discover, or as you call them “Discovery” is requiring this unblemished documentation because you are applying for a secured credit card with no former credit history. They are taking a risk with you, not the other way around. Furthermore, requesting these documents protects you because the credit card company is not the scammer, but it is the individuals trying to use your information who may not have the original documents. Some helpful advice would be to not apply for credit cards if you are not willing to supply the required information while in the middle of the process. All that will result are hard pulls, no cards, and a lower credit score.


#32

First card, got approved with very little credit history

I don’t make much money and have no credit history besides paying my utility bills under my name for the last 3 years and I just got approved for this card.

I applied for this card a couple years ago and didn’t get approved, so it seems like all you need to do to get this card is have any job at all and pay a few bills in your name if you have absolutely zero credit like me.

No annual fee, I can build credit, buy food and gas when I’m out of money right before payday, and even get decent cash back rewards? Sounds good to me!


#33

Easy and reliable!

I haven’t had a single issue in the last six months since receiving my card, so I can’t attest to the customer service. I had very little history and a few collections and closed accounts on my report, but was approved with a deposit and credit line of $200. I keep my balances below 10%, and I pay it off immediately after purchases. I try to think of it as a debit card, and never buy anything I don’t already have the money for in my checking account. I started with a credit score around 550, and now it’s at 669! I’m hoping at the 8 month mark, they’ll review and consider upgrading my account to an unsecured card with a higher limit. The cash back has been great, and there’s no penalty for paying balances early, which was a must for me when looking for cards to apply for. Very happy with my decision, and am feeling hopeful about my progress moving forward! Highly recommend!


#34

Easy Approval

I have been approved for the Discover it secured card, and the process was PAINLESS. I was denied a Walmart credit card because of old things on my credit report. My fico score currently is 579. I have one other credit card but it’s with Creditone. I don’t recommend it because of the fees and interest rates, however if your like me and just need to stabalize good payment history, that’s another easy approval. Good luck to all, there is always options… Just have to look in the right places and be responsible! Thank you Discover for giving me a chance!


#35

Denied Unsecured Status without Reasons Why!

Before I signed up for the card, i had read many complaints about folks doing everything write but still not getting approved for unsecured status and having their deposits returned. Well, it has just happened to me and I’m furious. After 8 months of using the card and ALWAYS paying my balance on time and in full every month, they did not convert me and held on to my $2000 deposit! What’s worse is they can’t/wont tell me the reason i was not approved for unsecured status. They state that it is based on responsible credit practices across all of my lines of credit. Well if that is the case, i should have been approved, because I have never made a late payment in the last year! Discover card is now at the bottom of my list. And from the other reviews that i read on here, it looks like there is a good chance that I wont ever get my deposit back unless I cancel the card. Such a disappointment!!


#36

Easy to apply for.

The process was fairly easy and did it in less than 20 minutes. The wait time is a little long at 2 weeks.


#37

GREAT CARD!

I really like my Discover Card, it’s is my "front of wallet"card, meaning it’s my first choice for every transaction. I use it on Apple Pay. I love the cash back, and I love their app. They’re a company I really like doing business with.


#38

AMAZING!

I filed for bankruptcy in November. I was cleared at the beginning of January. I applied for this card at the end of January, got approved immediately. I used this card twice, for $55 in purchses (my limit is $200) and my credit score went from a 577 to a 677 in two purchases, over one week. I can’t believe it.


#39

Really good card have

Like set good credit limit


#40

Just got approved

I was recently discharged from a bankruptcy. I had no idea that I would be approved for the secured card but I applied any way. I am grateful that I did. I appreciate Discover for giving me a second chance. I was pretty good with managing my credit before my bankruptcy but unfortunately relocating caused me to fall behind and bankruptcy seemed to be the better option. I am so happy to be on the path of rebuilding my credit again. Thanks Discover. I recommend this card to anyone needing a second chance.